Pages Navigation Menu

Illinois Policyholders Affected By Flooding

Pekin Insurance® is responding to the needs of its policyholders and the requests of the Illinois Department of Insurance in the administration of insurance policies, including all lines, resulting from a recent flooding disaster that impacted 4 counties.  Effective immediately, the following actions are applicable for all lines to insureds residing in Cook, Kane, Lake, and McHenry Counties.

  • Moratorium on cancellations and nonrenewals.  Insurers shall withdraw any cancellation or nonrenewal notice issued on or after July 12, 2017, on any in-force policy issued to an affected policyholder and/or property.  In addition, insurers shall not issue any new cancellation or nonrenewal notices to affected policyholders and/or property until September 30, 2017, or a later time if deemed reasonable given an individual consumer’s circumstance.  Some policies will be reinstated to comply with this July 12, 2017, date.  This “moratorium” is not a waiver; it is only an extension of the grace period in which to pay the premium.  After this moratorium period, the policyholder will have to resume making premium payments.
  • Other insurance-related time-period extensions.  Insurers are directed to grant to affected policyholders an extension of any and all policy provisions or other requirements that impose a time limit for an insured or claimant to perform any act, including the submission of a claim or proof of loss, reporting of information, submission of bills, or payment of funds.  Such extension shall be for a minimum of 60 days from the last date allowed or required under the terms of the contract or allowed or required by the insurer, or longer if deemed reasonable given an individual consumer’s circumstance.
  • Time-period extension for repairs.  In the event repairs on affected property cannot be completed within the time period required under any policy, or within the 90-day time period for repairs prior to termination due to condition of the property, insurers shall provide consumers with an extension of not less than 60 days to make such repairs.
  • Cancellation or nonrenewal respecting affected property. Although otherwise allowed under Illinois law, insurers are directed to refrain from canceling or nonrenewing insurance policies respecting affected property due to “increase in the risk originally accepted” or due to the geographic location of the risk.
  • Other exceptions to policy or contract requirements or rating or underwriting rules. Insurers shall consider exceptions to policy or contract requirements, or to other rating or underwriting rules not otherwise listed herein, when such contractual requirements or rating or underwriting rules are not met as a result of this disaster.  Exceptions to policy or contract requirements or rating or underwriting rules include instances where an insured is displaced from his or her home and is unable to obtain non-emergency medical services from a network provider.

It is our sincere goal to accommodate the needs of our policyholders that have been affected by these natural disasters.  Please feel free to contact your Personal Lines, Commercial Lines, and Life underwriters with any additional questions you may have.

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Call Toll-Free 1-800-322-0160